Bryant Edwin Caveness, a previously registered broker and previously registered investment adviser was allegedly barred by the Financial Industry Regulatory Authority (FINRA) for failing to comply with their request for documents and information in connection with an investigation against him according to an investigation by attorney Alan Rosca. Former broker Bryant Caveness is also subject to a customer dispute disclosure.
Securities attorney Alan Rosca, of Rosca Scarlato LLC law firm, is investigating conduct related to Caveness’ bar by FINRA for failing to comply with their request for documents and information in connection with an investigation against him. Concerned investors are encouraged to contact attorney Rosca by calling 888-998-0530, via email at arosca@rscounsel.law, or by leaving a message through the contact forms on this page.
Ex broker Bryant Caveness was in the employment of Ameriprise Financial Services prior to the bar. He was registered with the FINRA member firm between October 2009 and July 2020. He was registered with the firm when he allegedly carried out the acts leading to the bar. Caveness was discharged by his former employer for violating company policy related to personal trade, ethics and solicitation of exchange traded products in July 2020, according to the reports on his FINRA Brokercheck page.
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Bryant Caveness Was Barred by FINRA
FINRA initiated the regulatory action against former broker Bryant Caveness on the allegation that Caveness failed to comply with their request to provide information and documents. This request from FINRA was allegedly in connection with an investigation into a potential receipt of checks from senior customers by the former Ameriprise broker. According to the reports on the brokercheck page, it was alleged that Bryant E. Caveness initially cooperated with FINRA’s investigation but he subsequently ceased to do so.
In resolving this regulatory action, Caveness consented to a Letter of Acceptance, Waiver and Consent (AWC) with FINRA. By virtue of the AWC, without admitting or denying the findings, Bryant Edwin Caveness consented to the sanction imposed by the regulatory authority which barred him indefinitely in all capacities.
Caveness Has Been Subject to Customer Dispute Disclosures
According to a dispute filed with FINRA in November 2020, while he was registered with Ameriprise Financial Services, former broker Bryant Caveness recommended to his customers to invest in precious metals and mining stocks, inverse and leveraged ETFs, and gold coins. The customers further alleged unsuitability, breach of fiduciary duty and negligence, and requested $230,000 in alleged damages.
Securities attorney Alan Rosca further reviewed public information as reported on his FINRA brokercheck reports and found that Caveness has additional customer dispute disclosures initiated primarily on the allegation of unsuitable investment recommendations.
In a customer dispute initiated in July 2010, the client made verbal allegations of discretionary trading of unsuitable investments within their portfolio. As a result of this, the client sought to recover $170,000 in damages but the dispute was eventually settled for half the requested amount at $85,000.
The second customer dispute was instituted on very similar allegations. The dispute, which was instituted in May, 2001 was based on a verbal complaint and allegation of unsuitable investment recommendation. The client initially requested $100,000 in damages from the dispute but they were only able to recover $37,500 in damages eventually.
Bryant Caveness was in the employment of Morgan Stanley DW INC between October 1999 and January 2003.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to Bryant Caveness’s bar by FINRA for refusing to provide information and documents during its investigation against him, as well as allegations of unsuitability and breach of fiduciary duty.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who are concerned they lost money as a result of conducts related to Bryant Caveness’s alleged bar of customer dispute may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
